Frequently Asked Questions
Find out more about borrowing with Norton Finance.
How do I apply?
If you’re happy with the breakdown of one of the loan products above, click the Apply button to the right. This will offer more information about the product. It will also ask you to fill in a few quick details about yourself. Or call us anytime using the number at the top of the page.
How much should I borrow?
To keep the cost of borrowing down, we suggest borrowing just the minimum you require over the shortest term possible. Our calculator will show you the most up to date terms that lenders are currently offering. However, the rates available to you may differ depending on your own personal circumstances and the amount you wish to borrow. If you’d like to talk through your options, get in touch and we’ll assess your situation to help find the best loan for you.
What can I borrow for a mortgage?
On average, lenders will provide a mortgage based on four to five times your salary, or combined salary if you’re making a joint application. In some circumstances, lenders will give up to six times your salary subject to other qualifying criteria. It’s important that your mortgage is affordable now and in the future.
How long should I borrow for?
The shorter the term of your loan, the less interest you’ll accrue, so the lower the amount you’ll pay back.
For example, if you borrowed £10,000 over three years at 10% interest it would cost you £322 a month or £1,600 in interest charges over that period. Borrowing the same amount over 10 years would only cost you £132 a month, but the total interest charged would increase to a whopping £5,850 – that’s £4,250 extra for spreading the cost.
How long does it take to get a secured loan / mortgage?
We know that it’s important to stay on top of your finances and make sure your plans aren’t tied up in red tape. That’s why we can give you an ‘in principle’ decision on your loan application within 24 hours.
We’ll also keep you in touch with one of our experienced customer managers, who can help guide you through the application to ensure your money arrives as quickly as possible. They’ll keep you updated on your loan application every step of the way – just pick up the phone.
Will there be any early repayment charges?
If you can afford to, you can pay off a loan earlier. The benefit of this is that it can help save you money in interest repayments in the long run. If you repay a loan in full, you could be charged an early repayment penalty – this varies from one lender to another. You should be able to find the amount on your loan agreement.
